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Wendy's faces possible sale

17 May 2007 by
Wendy's faces possible sale

US fast-food chain Wendy's has appointed financial advisors to look into a possible sale of the company.

JP Morgan and Lehman Brothers will advise the company's strategic committee on a review of its options, following pressure from shareholders.

Highland Capital, which has an 8.5% stake in the chain has been calling for the company to put itself up for auction following the spin off of its North American coffee and donut chain Tim Hortons in a $671m (£339m) initial public offering last year.

James Pickett, chairman of Wendy's board of directors and the special committee, said: "Kerrii Anderson, Wendy's chief executive] and her team generated more than $2b (£1b) in shareholder value in 2006 and they are executing the company's current strategic plan to revitalise the brand, improve results at every restaurant, and position Wendy's for long-term sustainable growth."

Wendy's has more than 6,700 restaurants in North America and also owns the Pasta Pompadoro and Café Express chains.

Food service sales grow by a third in five years >>

Wendy's website >>

By Emily Manson

E-mail your comments to [Emily Manson](mailto:emily.manson@rbi.co.uk?subject=Wendy's faces possible sale) here.

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